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Joe Left His Car at Harry's Tire Store, Asking Harry

question 54

Essay

Joe left his car at Harry's tire store, asking Harry to put a particular model of tire from his stock onto the vehicle while Joe went into his office in town. During the day, the tires were installed on the car, and Joe returned that evening to pick up the car. At what point did title on the tires transfer?

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Definitions:

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A non-standardized agreement between two parties to buy or sell an asset at a specified future time at a price agreed upon today.

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Standardized contracts to buy or sell financial instruments or physical commodities for future delivery at an agreed price.

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An index tracking the performance of 500 major US companies listed on the stock exchanges.

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An indicator that shows the performance of all stocks listed on the New York Stock Exchange.

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